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ACCT 301 Week 8 Final Exam
1.(TCO 1) What is the accounting equation? Suppose your company sold $12,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation? (Points : 17)
2.(TCO 2) What are the four basic financial statements? Describe the balance sheet, and explain why it is important
3.What is the Sarbanes-Oxley Act? Do you think this act has more importance for the accounting profession or for investors?